On the trade-offs of Proof-of-Work algorithms in blockchains

Citation

Chin, Zi Hau and Tan, Ian Kim Teck and Yap, Timothy Tzen Vun (2020) On the trade-offs of Proof-of-Work algorithms in blockchains. In: Computational Science and Technology. Lecture Notes in Electrical Engineering (Computational Science and Technology), 603 . Springer Verlag, pp. 575-584. ISBN 9789811500572

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Abstract

There are many different protocols that regulate the way in which each node on a blockchain network is able to reach consensus that a newly created block is valid. One of the protocols, Proof-of-Work (PoW) gained popularity when it was implemented in a blockchain-based cryptocurrency known as Bitcoin. However, there are inherent deficiencies in its current implementation. This paper discusses these deficiencies, as well as the parameters that directly and indirectly affect its efficacy and performance so that possible enhancements to the protocol can be investigated.

Item Type: Book Section
Uncontrolled Keywords: Blockchains (Databases), Blockchain, Bitcoin, Difficult
Subjects: Q Science > QA Mathematics > QA71-90 Instruments and machines > QA75.5-76.95 Electronic computers. Computer science
Divisions: Faculty of Computing and Informatics (FCI)
Depositing User: Ms Suzilawati Abu Samah
Date Deposited: 16 Dec 2020 10:35
Last Modified: 16 Dec 2020 10:35
URII: http://shdl.mmu.edu.my/id/eprint/7945

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